bollinger bands ea
Info
The bollinger bands ea is a Expert Advisor for MetaTrader 5 that update: the positions will only be opened after the bearish or bullish candle. indicators such as moving average and bollinger bands removed from the chat after closing the ea.
Usage
This tool is typically used for automated trading on major forex pairs and gold.
Platform
This Expert Advisor works exclusively on MetaTrader 5 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL5/Experts folder via File ? Open Data Folder in MetaTrader 5.
How to Install and Use bollinger bands ea
1. Installation: Open the "File" menu, select "Open Data Folder," navigate to MQL/Experts, paste your file, and restart the terminal.
2. Activation: Drag the EA from the Navigator onto a chart, ensure "Allow live trading" is checked in the Common tab, and verify the AutoTrading button is green.
3. Optimization: Right-click your chart, choose "Expert List," click "Properties" to adjust inputs, and save your preferred setup as a set file for future use.
4. Maintenance: Regularly check the "Experts" tab in the terminal window to monitor trade logs and potential execution errors.
Frequently Asked Questions
Q: Why is my EA not opening trades? A: Check the "AutoTrading" button, ensure "Allow live trading" is enabled, and verify your broker allows automated trading on your account type.
Q: Can I run multiple EAs on one chart? A: No, each chart can only host one active EA; however, you can open multiple charts for different currency pairs to run several EAs.
Q: What does the "smiley face" icon mean? A: A smiley face in the top-right corner of the chart indicates the EA is successfully running; a frowny face means it is disabled.
What this tool does
update: the positions will only be opened after the bearish or bullish candle.
Typical Use Case
This Expert Advisor excels in automated trading and technical analysis on MetaTrader 5.
Compatible Platform & Setup
This Expert Advisor works on MetaTrader 5. Place the file in the MQL5/Experts folder and restart the terminal.
Description & Settings
Related: bollinger bands ®-based expert advisor - another powerful expert for MetaTrader 5 traders.
update:
the positions will only be opened after the bearish or bullish candle.
Also recommended: Exp Bbands Stop Expert Advisor - similar expert with strong performance on MetaTrader 5.
indicators such as moving average and bollinger bands removed from the chat after closing the ea.
small errors with closing the positions after time.
bollingerbandsea trades according to bollinger bands. if the lower line is broken downwards, es places a buy order and vice versa the sell position.
the following settings are integrated:
magic number
fixed volume
procent volume
volume type
risk for position
lots
stoploss in points
trading (minutes) begins after session start
trading (minutes) end before session
close position after indicator
allow trailing stop?
profit factor (rr) after stop is pulled
allow breakeven?
profit factor (rr) after stop is pulled
close position if it is in minus (after minutes)
You may also like: XMA Range Bands - excellent alternative for expert users on MetaTrader 5.
Source Code
яю//+------------------------------------------------------------------+
#property copyright "RobotFX"
#property link "https://robotfx.org"
#property version "3.00"
#property description "Educational code - RobotFX www.robotfx.org"
#property description "Educational code - RobotFX www.robotfx.org"
#property description "Educational code - RobotFX www.robotfx.org"
input group "---------- General ----------"
input ulong Magic = 111111111111; // Magic number
input group "---------- Risk- and Moneymanagement ----------".......
⚠ Limitations & Risk Warning
- This tool is provided for educational and testing purposes only.
- Past performance does not guarantee future results.
- Trading involves substantial risk of loss. Use on a demo account first.
- Results may vary depending on market conditions, broker, and settings.
- We recommend thorough backtesting and forward testing before using with real funds.